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In law, an equitable interest is an "interest held by virtue of an equitable title (a title that indicates a beneficial interest in property and that gives the holder the right to acquire formal legal title) or claimed on equitable grounds, such as the interest held by a trust beneficiary". [1]
Maxims of equity are legal maxims that serve as a set of general principles or rules which are said to govern the way in which equity operates. They tend to illustrate the qualities of equity, in contrast to the common law, as a more flexible, responsive approach to the needs of the individual, inclined to take into account the parties' conduct and worthiness.
The rule in Dearle v Hall (1828) 3 Russ 1 is an English common law rule to determine priority between competing equitable claims to the same asset. The rule broadly provides that where the equitable owner of an asset purports to dispose of his equitable interest on two or more occasions, and the equities are equal between claimants, the claimant who first notifies the trustee or legal owner of ...
In property law, title is an intangible construct representing a bundle of rights in (to) a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document, such as a deed, that serves as evidence of ownership.
A legal interest refers to the legally enforceable right to possess or use property. The term may refer to past, present, or future interests. Legal interest may also refer to: Equitable interest, which is a legal interest that may be enforced by equitable remedies; Estate in land, a possessory interest in real property
In finance, equity is an ownership interest in property that may be offset by debts or other liabilities. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets owned. For example, if someone owns a car worth $24,000 and owes $10,000 on the loan used to buy the car, the difference of $14,000 is equity.
Theodore Ruoff, Chief Registrar from 1963, said the main three functions the register served was (1) to mirror ownership interests in land (2) to curtain off minor, or equitable interests that could be bypassed (or "overreached") in the land conveyance business, and (3) to provide insurance through Registrar funds to anyone who lost property as ...
Superimposed on the legal estate and interests in land, English courts created "equitable interests" over the same legal interests. These obligations are called trusts which will be enforceable in a court. A trustee is the person who holds the legal title to property, while the beneficiary is said to have an equitable interest in the property.